Managerial Accounting
6th Edition
ISBN: 9781259726972
Author: John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter C, Problem 12QS
A company reports ending accounts payable of $2,055 and cost of goods sold of $18,300. Compute days’ payable outstanding. Round the answer to the nearest whole day.
OS C-12 Days' payable outstanding A3
A3
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Students have asked these similar questions
A company reports the following:
Line Item Description
Amount
Sales
$235,060
Average accounts receivable (net)
51,100
Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year.
Line Item Description
Answer
a. Accounts receivable turnover
b. Days' Sales in Receivables
Compute for the Day Sales Outstanding of Company X and Y. Compare each other. Use 360 days.
Company X
Company Y
Accounts Receivables
P452,100
P233,200
Annual Sales
P3,205,100
P1,956,200
Assume the Day sales outstanding (DSO) 36 days, Sales revenues $500,000, calculation based on 360 day per year. Calculate account receivables
(A/R)?
O a. $100,000
O b. $150,000
O c. $50,000
d. $250,000
Chapter C Solutions
Managerial Accounting
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